|Staples Inc. Announces 11 Million Share Secondary Offering|
| Business Editors|
FRAMINGHAM, Mass.--(BUSINESS WIRE)--June 25, 1999--Staples Inc. (NASDAQ:SPLS) today announced it has filed a registration statement with the Securities and Exchange Commission for a proposed secondary offering of 11,107,473 shares of its common stock. The shares will be sold by the Miller family, former owners of Quill Corporation, which was acquired by Staples in May 1998.
The registration statement also covers an additional 1,666,121
shares, also being sold by the Miller family, that will be subject to
an option to be granted to the underwriters to enable them to cover
over-allotments in the offering, if any. Staples will not receive any
proceeds from the offering.
Morgan Stanley Dean Witter and Goldman, Sachs & Co. are joint
book-running managers for the offering. Staples Inc. is a $7 billion
retailer of office supplies, furniture and technology to consumers and
businesses in the United States, Canada, the United Kingdom and
Germany. The company has over 44,000 employees serving customers
through more than 900 office superstores, mail order catalogs,
e-commerce and a contract business.
The offering may be made only by a prospectus meeting the
requirements of Section 10 of the Securities Act of 1993, which may be
obtained from the managers referred to above when available. A
registration statement relating to the securities has been filed with
the Securities and Exchange Commission, but has not yet become
effective. These securities may not be sold, nor may offers to buy be
accepted, prior to the time the registration statement becomes
effective. This announcement shall not constitute an offer to sell or
the solicitation of any offer to buy, nor shall there be any sale of
these securities in any jurisdiction in which such offer, solicitation
or sale would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction.
--30--et/ny* CONTACT: Staples Inc., Framingham Media Contact: Shannon Lapierre Manager, Public Relations 508/253-8468 E-mail: firstname.lastname@example.org or Investor Contact: Diane Basile Director, Investor Relations 508/253-7963 E-mail: email@example.com KEYWORD: MASSACHUSETTS INDUSTRY KEYWORD: RETAIL COMPUTERS/ELECTRONICS COMED